I am married and live in Wisconsin. I pay 2K in premiums for my Medicare insurance that is deducted from my Social Security. My 63 yo wife paid 9K for medical insurance. All of our income is from SS and 50K in dividends. Turbotax is not treating these insurance premiums as deductible when I do my Wisconsin Taxes. This seems to be a flaw in the Wisconsin Turbotax software. Other people from Wisconsin have also commented on this problem and Turbotax has not fixed the software problem. Does anyone know why this is happening? I realize you can only deduct medical expenses from federal taxes when they exceed 7.5% of your income but this is not true for Wisconsin
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It is actually true for Wisconsin. For Wisconsin purposes, the amount of medical and dental expenses that may be claimed on the Wisconsin itemized deduction credit must be more than 7.5% of your adjusted gross income.
Medical insurance premiums that are paid with after tax dollars can be subtracted from Wisconsin income. This is different from itemized deductions that include medical care. Turbotax does not treat this unique Wisconsin rule correctly. see link https://www.revenue.wi.gov/Pages/FAQS/pcs-medins.aspx#:~:text=The%20subtraction%20is%20only%20allowe....
It depends. Did you follow the navigational steps in your Wisconsin return in order to claim your deduction?
You will need to record this on your own as Turbo Tax does not populate this automatically.
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